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Old 14-01-2019, 19:40   #1
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American Modern Insurance Group

Am shopping insurance for a new-build catamaran. Declared value policy, no claims, no lien, very good credit. Got a good quote from Chubb/Ace with annual premium about 1.25% of value. BoatUS at 3% of value and limited coverage valuation to about 65% of boat actual invoice. American Modern came in with policy that looks similar to Chubb, but premium at 0.7% of boat value. Agent says AM Best rated A+ and recommends them, even though his opinion Chubb is best, but not worth the difference. Anyone have experience with American Modern yacht policy, especially claims?
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Old 25-06-2024, 10:47   #2
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Re: American Modern Insurance Group

Reviving a 5 year-old post but I think the is still relevant. Has anyone had experience with American Modern Insurance Group since? We got a quote from them for our new catamaran (and existing boat) and they seem knowledgable and the rates are very good.

Anyone had good or bad experiences with them?

Thank you in advance.
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Old 01-07-2024, 09:41   #3
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Re: American Modern Insurance Group

We switched to AMIG cover in 2021.

We solely cruise the NNE Pacific and adjoining northern waters. Low-mid 6-figure hull value w/ 2% deductible; 3 independent 7-figure liability covers; liberal navigable waters with no seasonal restrictions; etc. All for sub 1% of Agreed Value annual premium.

We switched to AMIG because they use N Pacific coast underwriters who also know our waters.

We have never had a claim.

More details in this blog post, if interested.

In case this is helpful.

Cheers, Bill
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Old 01-07-2024, 21:18   #4
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Re: American Modern Insurance Group

Quote:
Originally Posted by wrwakefield View Post
We switched to AMIG cover in 2021.

We solely cruise the NNE Pacific and adjoining northern waters. Low-mid 6-figure hull value w/ 2% deductible; 3 independent 7-figure liability covers; liberal navigable waters with no seasonal restrictions; etc. All for sub 1% of Agreed Value annual premium.

We switched to AMIG because they use N Pacific coast underwriters who also know our waters.

We have never had a claim.

More details in this blog post, if interested.

In case this is helpful.

Cheers, Bill
Thank you Bill, helpful!

@sailjumanji how did you end up insuring your catamaran?
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